In September 2020, the SBF-Experian SME Index for 4Q20 – 1Q21F registered an overall reading of 46.3, based on data collected between July and August 2020, the lowest reading since the inception of the SME Index (“the Index”) in 2009. This index, a joint...
As Singapore emerges into a post-pandemic economy, businesses should go beyond adapting and surviving, and move to accelerate structural adaptations which will help to emerge stronger. In line with this, Budget 2021 has reaffirmed the government’s commitment to digital transformation through funding for new initiatives and...
The Fair Tenancy Pro Tem Committee was formed in June 2020 to strengthen collaboration between landlords and tenants, with the intent to address long-standing tenancy issues for the retail, food & beverage (F&B), and lifestyle sectors, and establish industry norms on tenancy practices and terms.Chaired by Mr...
New precinct-level digital initiatives and an SME Centre have been launched to help Chinatown businesses grow their business by attracting more visitors, with dedicated efforts to target the younger and digitally-savvy crowd. New Digital Initiatives COVID-19 has impacted Singapore’s tourism businesses...
NTUC LearningHub (NTUC LHUB), NTUC U SME, United Overseas Bank (UOB)'s innovation accelerator The FinLab, and Ngee Ann Polytechnic have signed a Memorandum of Understanding (MOU) to officially launch the SME Digital Reboot programme. The programme aims to help 500 companies nationwide deepen their digital...
GlobalConnect@SBF is an initiative by SBF and supported by Enterprise Singapore to help businesses expand globally. Since its launch in November 2019, GlobalConnect@SBF has assisted more than 2,500 Singapore businesses. Despite a challenging year in 2020, GlobalConnect@SBF has also enabled 15 overseas ventures by...
As Singapore re-opened her economy, government measures have shifted from containment to restructuring, while continuing support for Singaporeans, workers, and businesses. Broad-based support has transitioned into more targeted efforts for firms, especially those in the hardest-hit sectors. At the same time, measures were introduced to preserve core...
Singapore’s Budget 2021 was delivered by Deputy Prime Minister Heng Swee Keat on 16 February. Coming after a challenging year where COVID-19 has created major upheavals worldwide, the budget indicates a shift in government measures from “containment to restructuring, while continuing our support for Singaporeans, workers, and...
Despite COVID-19, 15,300 enterprises pressed on with projects to raise productivity, enhance innovation and pursue internationalisation in a challenging 2020, with support from Enterprise Singapore (ESG). These enterprises are largely from the retail, wholesale trade, manufacturing, food services and professional services sectors. Their efforts...
Battling the economic fallout from the COVID-19 pandemic has taken a toll on entrepreneurs, especially those heading micro and small enterprises. A DBS survey showed that over eight in ten owners of micro and small businesses have made personal sacrifices to keep the lights on amid the...